Cushman & Wakefield Tapped to Market Totowa Office Redevelopment

On Mar 16, 2018

The multi-million-dollar redevelopment of a former call center in Totowa will introduce a new, 113,000-square-foot, Class A commercial property to the marketplace. Commercial real estate services firm Cushman & Wakefield has been appointed leasing agent for the building at 515 Union Blvd., which offers an ideal setting for both traditional office users and medical services providers.

Cushman & Wakefield’s Frank Truesdell, Christian Politan and Adam Matloff are heading the assignment on behalf of the property owner, Totowa Investment Group, LLC. “Our client has completed interior demolition of this well-located building and is now in the process of re-roofing and reskinning the structure,” Truesdell noted. “Union 515 is essentially a white-box opportunity suited to a variety of uses. This particular neighborhood has long been a draw for office users across multiple industries. It is easily accessible from points throughout Passaic, Morris and Essex counties – a region known for its deep labor pool – and is surrounded by a multitude of local amenities.

“Currently, the local market is under-served for medical office buildings – at a time of high demand among healthcare services providers,” Truesdell noted. “515 Union Blvd. is particularly well suited to serve this niche. Surrounding hospitals and medical centers include St. Joseph’s Regional Medical Center, Valley Hospital, Kindred Hospital and St. Barnabas.”

Set for delivery later this year, the building sits on 6.6 acres, offering flexible floor plates, skylight atriums and brand-new, state-of-the art building systems. Its future tenants will benefit from an on-site bank branch and ATM, ample parking, and an NJ Transit bus stop at the property. Cushman & Wakefield is marketing units starting at 20,000 square feet.

Union 515 offers proximity to I-80, Route 46 and Route 23, and multiple county roadways. It is convenient to the Willowbrook Mall and major retailers and hospitality providers along the Passaic/Morris/Essex Route 46 corridor.

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